Tuesday, April 9th, 2019

Last fall, an anonymous bettor spent $1500 on a 200:1 futures bet on the Red Raiders of Texas Tech to win the men’s basketball NCAA championship. This seems like a pretty lousy bet given the odds, but as of last night, the team had made it all the way to the finals. Before the Red Raiders tipped off against Virginia, the gambler was offered a guaranteed $125,000 to sell the bet, but opted to hold on to it in the hopes of winning $300,000 with one more win from Texas Tech. Today, his bet is worth $0.